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Nifty50 Chart Analysis: Heading towards a new all time HighTitle: Nifty50 Chart Analysis: Uptrend Signals and Key Levels As a technical analyst, it is crucial to provide a clear and professional analysis of the Nifty50 index, helping traders and investors understand the current market structure without offering specific buy, sell, or hold recommendations. In this article, we will discuss recent developments in the Nifty50 index and how they indicate a shift towards a "buy on dips" market. **Introduction:** The Nifty50 index has recently completed a short-term correction and appears to be entering a fresh uptrend. On 7th September, the index closed above the critical level of 19,700, signifying a significant market shift. This development is marked by the creation of a "higher high," which is a crucial concept in technical analysis. **Understanding "Buy on Dips" Market Structure:** The term "buy on dips" refers to a market structure characterized by the formation of "higher highs" and "higher lows." This structure indicates an uptrend in the market. Here's what it means: - **Higher Highs:** A higher high occurs when the price of an asset reaches a level that is higher than the previous high. In the case of Nifty50, the index closing above 19,700 on 7th September is a higher high compared to previous highs. This signals bullish sentiment as investors are willing to pay higher prices. - **Higher Lows:** Similarly, a higher low occurs when the price doesn't fall as far as the previous low during a correction. This signifies that buyers are stepping in at higher price levels, indicating confidence in the market's upward movement. In essence, when a market forms a series of higher highs and higher lows, it suggests that the trend is bullish, and it becomes an opportune time for traders to consider buying on price dips. **Anticipating Future Movements:** With the Nifty50 closing above 19,700, it's possible that the market could soon reach the 20,000 mark. This milestone could mark the beginning of a fresh trend that may eventually lead to new all-time highs. **Conclusion:** As a technical analyst, it's essential to focus on market structure and key levels without providing specific buy, sell, or hold recommendations. The recent higher high in the Nifty50, along with the potential for further gains, indicates a "buy on dips" market structure. Traders and investors should monitor the market closely, keeping these technical aspects in mind. This analysis has been provided by: Shivam Bhanot Professional Trader, Technical Analyst, Senior Mentor at Trading Game Strong Please note that this article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research and consult with a financial professional before making any investment decisions.
NSE:NIFTYLong
by tgsanalytics
NIFTY H&S Pattern So Ready toward 15000 ?NIFTY50 Chart Analysis: Head & Shoulder Pattern in HTF Points to Possible Downside Move As of May 2, 2023, the ₹NIFTY is currently trading at ₹18150. However, a chart analysis of the higher time frame (HTF), particularly the 3-day and weekly charts, shows a head and shoulder (H&S) pattern forming, which could indicate a potential downside move soon. Left Shoulder and Head Already Formed The left shoulder has already formed, and the head has also formed, indicating a possible top. The chart analysis is now waiting for the formation of the right shoulder. If the right shoulder forms as expected, the ₹NIFTY will likely test the ₹17000 level again, which is the neck line support for the H&S pattern. Neck Line Support and Major Support Level The neck line support at ₹17000 is a crucial level to watch. If the ₹NIFTY breaks down this level, it could potentially see the ₹15000 level in the mid-term, which is a major support level in the higher time frame. Key Levels to Consider The support levels to watch out for are ₹17000 and ₹15000, while the resistance levels are ₹18250 and ₹18800. Invalidation of the H&S Pattern The H&S pattern will be invalidated if any higher time frame candle closes above ₹18250, indicating an inverse H&S pattern. Conclusion and Takeaways Based on the chart analysis, there is a possibility of a downside move soon in the ₹NIFTY. However, it is crucial to do your own research before making any investment decisions. Keep an eye on the neck line support at ₹17000 and the major support level at ₹15000. It is also essential to pay attention to the resistance levels at ₹18250 and ₹18800. Always remember to trade wisely and never blindly follow any chart analysis or predictions. Follow us for More Quality Charts. Thank you.
NSE:NIFTYShort
by CryptoPatel
Nifty50 Chart Analysis: Uptrend Signals and Key LevelsAs a technical analyst, it is crucial to provide a clear and professional analysis of the Nifty50 index, helping traders and investors understand the current market structure without offering specific buy, sell, or hold recommendations. In this article, we will discuss recent developments in the Nifty50 index and how they indicate a shift towards a “buy on dips” market. Introduction: The Nifty50 index has recently completed a short-term correction and appears to be entering a fresh uptrend. On 7th September, the index closed above the critical level of 19,700, signifying a significant market shift. This development is marked by the creation of a “higher high,” which is a crucial concept in technical analysis. Understanding “Buy on Dips” Market Structure: The term “buy on dips” refers to a market structure characterized by the formation of “higher highs” and “higher lows.” This structure indicates an uptrend in the market. Here’s what it means: - Higher Highs: A higher high occurs when the price of an asset reaches a level that is higher than the previous high. In the case of Nifty50, the index closing above 19,700 on 7th September is a higher high compared to previous highs. This signals bullish sentiment as investors are willing to pay higher prices. - Higher Lows: Similarly, a higher low occurs when the price doesn’t fall as far as the previous low during a correction. This signifies that buyers are stepping in at higher price levels, indicating confidence in the market’s upward movement. In essence, when a market forms a series of higher highs and higher lows, it suggests that the trend is bullish, and it becomes an opportune time for traders to consider buying on price dips. Anticipating Future Movements: With the Nifty50 closing above 19,700, it’s possible that the market could soon reach the 20,000 mark. This milestone could mark the beginning of a fresh trend that may eventually lead to new all-time highs. Conclusion: As a technical analyst, it’s essential to focus on market structure and key levels without providing specific buy, sell, or hold recommendations. The recent higher high in the Nifty50, along with the potential for further gains, indicates a “buy on dips" market structure. Traders and investors should monitor the market closely, keeping these technical aspects in mind. This analysis has been provided by: Shivam Bhanot Professional Trader, Technical Analyst, Senior Mentor at Trading Game Strong Please note that this article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research and consult with a financial professional before making any investment decisions.
NSE:NIFTYLong
by ShivamBhanot_TGS
Nifty50 Analysis and Trade Plan for August 09Supply and demand zones marked on yesterday's chart hold good for tomorrow as well. Black Line zones - Resistances R1 - 19617-19639 R2 - 19723-19795 R3 - 19805-19822 R4 - 19842-19876 Green line zones - Demand S1 - 19593-19574 S2 - 19555-19510 S3 - 19595-19462 S4 - 19350-19295 Analysis:- Same as yesterday, Nifty has not moved majorly from yesterday’s OHLC. Hence Requoting “Nifty is in the process of forming a retracement, Lower High for the Downtrend formed. But if it moves strongly above 19684-19733 which is the 78.6% to 88.6% retracement levels of the previous major swing, which also coincides with the Gap supply zone and out of the falling channel that has formed, then there are high probabilities that the market trend would change to an uptrend.” 19530 will act as an important support level, for 2 days, the market has been taking support at 19530. Trade Plan:- If the Market opens a gap up – 1) Will look to short the market based on setup confirmation till the Gap filling / Trendline support/R1 or till 19530 based on price action and run further as needed. 2) Can go long only after consolidation breakout , but too many sell zones above, so may not be keen on this trade unless Nifty crosses and sustains above 19876 zone. Will watch for major resistance zones marked above – R2,R3,R4. If the Market opens flat - Will wait for Price action, may be a rejection at R1/TL Resistance again till 19530 or below or could be a consolidation again till 19530 and then move up. 1) Possible short scalp from TL rejection till 19530 based on setup confirmation or could wait till 19530 breaks and then ride till next support level of 19460. 2) Will go long only post consolidation breakout of the smaller TL that has formed today but would be cautious at the major Trendline above and also the gap supply above it, will be keen on price sustainability above the major Trendline till the gap zone of 19738. If the Market opens a gap down - 1) Will look to short the market if any setup confirmation signal is obtained till the demand levels as marked based on where it opens either at S2/S3/S4 levels. Will be keen to short if there is a huge gap down at 19400 based on setup confirmation. If the price takes support, one may wait for consolidation up moves. 2) Will look to go long only if any setup exists post 75 minutes of consolidation/price sustainability at the higher levels from the Possible demand levels. Please check for Demand zones below 19200
NSE:NIFTY
by Rugminik
1
Nifty 50 Chart Analysis(Where can Nifty50 move on4th March 2024)Overview Observing the current trend and movement of the Nifty index, it is evident that Nifty is showing signs of a bull market. On February 28, there was a period of panic selling that ended at the 21855 level, which is also our trend support level as shown in the linked chart. The Nifty index maintained a sideways movement on Thursday; however, during the final hour of trading, an uptick in buying activity was observed, resulting in a positive closure at 21982.Subsequently, on Friday morning, an excessive buying happened which led to a market closure at 22328. Analysis If the Nifty index breaches both the Resistance level and the Fibonacci Extension level, and subsequently maintains a sustained position above 22331, it is anticipated to ascend towards the levels of 22461 (130 rupees movementum) and subsequently 22625 (164 rupees movementum). Conversely, should it decline below the level of 22214 and sustain such a position, it is likely to descend towards the level of 2207 (174 rupees movementum), followed by 22020. Further, if this downward momentum persists beyond the aforementioned levels, the index is expected to decline towards the level of 21856 (164 rupees movementum). Key points on Nifty 50 Chart Analysis. Symmetrical Chart Pattern Analysis on Nifty50 Daily Time Frame In analysing the Nifty50 on the daily time frame, a symmetrical chart pattern has been identified. As per this pattern, when the candle breaks the diagonal resistance, there's a potential for upward movement in prices. Conversely, if the candle breaks down the diagonal support level, it indicates a possible downward movement in prices. Stop loss and target placement are determined based on the rules of the pattern. Fibonacci Extension Levels Analysis Fibonacci extension levels are utilized to identify potential price targets in a trending market. Typically, when the price breaks or sustains above the 0.50 Fibonacci extension level, it suggests a continuation of bullish movement, as supported by various studies. However, it's noted that between the 0.50 and 0.618 Fibonacci extension levels, a "no trading zone" is considered in this analysis. The 0.618 level acts as a critical point where price action may exhibit indecision or consolidation before establishing a clear direction. These analyses provide valuable insights for making strategy decisions within the Nifty50 chart. Note: -I am not providing any trading call in this analysis idea, this is my personal view on Nifty 50
NSE:NIFTY
by shivams2493
Nifty Key Levels on Radar — Crucial Zones to Watch This WeekNifty 50 – 1 Hour Timeframe Analysis Nifty is currently showing strong support near the 25,800 zone. If this level breaks, the next support can be seen around 25,550–25,600. As per the current market structure, Nifty may first move in a range-bound phase, achieving initial targets around 26,150–26,180. If the upward momentum continues, the next potential targets will be around 26,300–26,400 levels. If the pattern support zone holds, then the pattern targets are likely to be achieved. Thank you!
NSE:NIFTYLong
by FiveCircles
Nifty Demystified in Multiple TF for August 11 2023 1) Weekly – Previous week candle has a bigger wick at the bottom indicating buying momentum at the lower levels This week candle seems to be an inside candle to the previous week candle. Need to wait for today's closing to conclude on this. 2) Daily indicates – 19450 to 19500 is a strong support area. There is a hammer at the Trendline followed by a confirmation candle of yesterday, can’t be ignored. For any further down move to continue on the positional basis, there must be a daily close less than 19530. Intraday analysis 1) 4H candles indicate wicks at the bottom at the Trendline supply zone indicating that sell orders are being absorbed at the supply levels at the same time there is buying at 19490-19530 region every time price hits there. 2) 30 Minutes indicate that, the selling is too strong till now, the size of the red candles is too big compared to the green ones and one red candle has covered a minimum of 2 green candles, the green candles formed in the last 30 mins are weak ones. 3) There has been an excellent price compression in the 15 minutes and 5 minutes time frame, so will wait for the price action to go long/short after 10 AM. Supply and Demand zones have been marked. Happy trading !
NSE:NIFTY
by Rugminik
NIFTY Monthly Divergence Indicates Bearishness for Months !!This is not to scare anyone ! But I have rarely seen any divergence on Monthly NIFTY50 chart. A monthly divergence indicates bearishness that might last for several months. Good thing is that, divergence has about 30% failures, and bad thing there is about 70% chances of happening this. My initial target would be about 15500 and further direction may be decided based on price action there. Whats Happening on the weeklies: Good thing is that, the early weekly candle appears it is getting rejected from previous weekly low of July 21. However, almost four trading sessions to go!!! Breaking these level would be more downwards. However, some pull back from this level is possible. The hourly chart below is also showing some bullish divergence, indicating some reversal from here. But God Knows how long that will hold.
NSE:NIFTYShort
by KachraStocks